Crude Oil Rises Sharply; Forgent Power Solutions Shares Jump After Q4 Results

U.S. stocks traded lower midway through trading, with the Dow Jones index dropping more than 350 points on Tuesday. The Dow traded down 0.71% to 52,051.45 while the NASDAQ declined 0.67% to 26,010.20. The S&P 500 also fell, dropping, 0.42% to 7,588.35.

Leading and Lagging Sectors Energy shares jumped by 1.4% on Tuesday. In trading on Tuesday, consumer staples stocks fell by 1%. Top Headline Forgent Power Solutions Inc. (NYSE: FPS ) shares jumped around 15% on Tuesday after the power infrastructure equipment maker reported strong fourth-quarter results and issued fiscal 2027 guidance above estimates.

Forgent reported adjusted earnings of 25 cents per share, beating the 24-cent estimate. Sales surged 94% year over year to $461.67 million, topping the $429.94 million estimate. Equities Trading UP Veea Inc ( NASDAQ: VEEA ) shares shot up 160% to $5.95 after the company announced it signed a term sheet to combine with NovaGen Group. Shares of My Size Inc (NASDAQ: MYSZ ) got a boost, surging 40% to $2.32 after the company announced an acquisition-led strategy focused on building a defense technology platform.

Radiant Logistics Inc ( NYSE: RLGT ) shares were also up, gaining 15% to $9.46 after the company reported better-than-expected fourth-quarter financial results. Equities Trading DOWN Huachen AI Parking Mgmt Tech Hldg Co Ltd ( NASDAQ: HCAI ) shares dropped 67% to $0.61 after the company announced the pricing of $2.75 million registered direct offering. Shares of Enova International Inc ( NYSE: ENVA ) were down 25% to $170.31 after the company announced that it has withdrawn its applications related to the proposed acquisition of Grasshopper Bancorp. Also, Citizens lowered its price target on the stock from $270 to $215.

Intercont (Cayman) Ltd (NASDAQ: NCT ) was down, falling 34% to $0.33 after the company announced a 1-for-25 reverse share split. Commodities In commodity news, oil traded up 4.6% to $106.05 while gold traded down 0.6% at $4,328.10. Silver traded up 0.2% to $64.235 on Tuesday, while copper rose 0.5% to $6.4385. Euro zone European shares were mostly lower today.

The eurozone’s STOXX 600 slipped 0.3%, while Spain’s IBEX 35 Index rose 0.2%, London’s FTSE 100 fell 0.5%, Germany’s DAX declined 0.1%, while France’s CAC 40 slipped 0.3%. Asia Pacific Markets Asian markets closed lower on Tuesday, with Japan’s Nikkei 225 falling 0.01%, Hong Kong’s Hang Seng index dipping 1%, China’s Shanghai Composite falling 0.54% and India’s BSE Sensex tumbling 1.04%. Economics The New York Fed’s Empire State Manufacturing Index declined 13 points to a reading of 7.6 in September compared to 20.6 in August, and also missing market estimates of 14.75. Photo via Shutterstock